Mufg Securities Canada LTD. Boosts Position in Royal Bank of Canada (NYSE:RY)

Mufg Securities Canada LTD. raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 72.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,160,865 shares of the financial services provider’s stock after purchasing an additional 904,909 shares during the quarter. Royal Bank of Canada accounts for 9.4% of Mufg Securities Canada LTD.’s portfolio, making the stock its 2nd biggest position. Mufg Securities Canada LTD.’s holdings in Royal Bank of Canada were worth $260,373,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after purchasing an additional 64,450 shares during the last quarter. Raymond James Financial Inc. bought a new position in Royal Bank of Canada in the 4th quarter worth $60,034,000. Wealth High Governance Capital Ltda purchased a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $10,243,000. Algert Global LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $706,000. Finally, Bridgewater Associates LP boosted its stake in shares of Royal Bank of Canada by 150.7% during the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of RY opened at $116.58 on Wednesday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The company has a market capitalization of $164.57 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The firm has a 50 day moving average of $117.77 and a 200 day moving average of $121.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RY shares. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.